Falklands Rockhopper contracts further drilling of four wells

Thursday, July 7th 2011 - 16:37 UTC

Full article 32 comments

Rockhopper Exploration plc announced on Thursday a further drilling of four wells offshore the Falkland Islands. The first of them, 14/10-6, will be the third appraisal well on the Sea Lion feature where the discovery of oil at commercial rate has been confirmed. Read full article

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Think
WOOOOOOOOOWWWWWW….......

”Falklands Rockhopper contracts further drilling of FOUR (4) wells !!!!
Further drilling of FOUR (4) wells !!!
FOUR (4) wells !!
FOUR (4) ?

Hmmmmmmmmmmmmm………....................................................

Lets check the Company’s own webpage:

Rockhopper Exploration plc / Additional Drilling Slot
Rockhopper Exploration plc (AIM: RKH), the North Falkland Basin oil and gas exploration company,
announces that it has entered into a further assignment agreement to secure an additional well slot on the Ocean Guardian drilling rig.
http://www.rockhopperexploration.co.uk/pdf/additional-rig-slot-July-FINAL.pdf

4 - 3 = 1
Chuckle chuckle™
Jul 07th, 2011 - 05:57 pm - Link - Report abuse 0
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Beef
Think - an assignment agreement is not a contract.

14/10-6 + 3 others = 4 wells.

Did you pass maths?
Jul 07th, 2011 - 06:10 pm - Link - Report abuse 0
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Think
Heading of the above article:
“Falklands Rockhopper contracts further drilling of four wells”

Did you pass English?

Chuckle chuckle™
Jul 07th, 2011 - 06:22 pm - Link - Report abuse 0
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Beef
Point taken, didn't read the title. They have however taken up an option and there are others outstanding.
Jul 07th, 2011 - 06:40 pm - Link - Report abuse 0
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Think
TWIMC
Back to Oil………………...................................................................

A pair of “Tricky Questions”:

Why hasn’t Rockhopper spudded well 14/10-6, its third appraisal well on the Sea Lion feature yet?

Why are they allowing an oilrig costing around 600.000 U$S a day to float idle in the South-Atlantic a whole fortnight?
Jul 07th, 2011 - 07:17 pm - Link - Report abuse 0
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Beef
Patience Iago, patience. They still had to recover the testing equipment, plug and abandon 14/10-5, pull anchors, tow to the next spot, run anchors (weather permitting) and then spud - then you will hear. I was expecting spud at around 10th July??? Could be right, could be wrong but i have patience.
Jul 07th, 2011 - 08:31 pm - Link - Report abuse 0
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Think
(6) Beef

You forgot to include lunch and smoking breaks…………
You are writing “for the audience” lad………..
Fourteen days to move 5 miles !!!

Chuckle chuckle™……………
Jul 08th, 2011 - 01:31 am - Link - Report abuse 0
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lsolde
@7Think,
l do believe that you're jealous Cher Think!
Jul 08th, 2011 - 10:05 am - Link - Report abuse 0
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Think
TWIMC

Jambhala, the British Oil Guru from www.iii.co.uk is commenting again.

Some of today’s pearls:

”RKH is running out of money faster than Berlusconi is running out of 17 year olds. These back to back wells ain't comin cheap and no DES/ARG to relieve the pressure on the b/sheet.”

”Still haven't spudded 14/10-6 lol, throwing money away.”

”14/10-6 could go horribly wrong. Add in general market uncertainty (European governments are bankrupt and no amount of window dressing changes that). We are heading for retest of 200p.”

”And I haven't even started on the inevitable funding problem looming ever larger....”

PS:
Rockhopper down again today -2.48%
Jul 08th, 2011 - 04:38 pm - Link - Report abuse 0
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Islander1
Think- so this guy is a petroleum exploration expert then?- I rather doubt it the way he writes. Lets wait a while until the drill bit reveals all(or not!) in a month,s time! As for downtime- bound to be a logical reason as nobody wilingly wastes that sort of money!
Maybe our Environmenmtal and Health & Safety Laws are tighter and thus take more time to comply with in this type of operation that those on Argentina,s side of the line?
Who,s system does Arg follow and base itself on? - the European North Sea standards - or USA?
A blow-out failure and major spill in the current drilling area Arg is working in would sure be a disaster for our wildlife as it would most likley all end up on our beaches!
Jul 08th, 2011 - 09:04 pm - Link - Report abuse 0
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Marcos Alejandro
“RKH is running out of money faster than Berlusconi is running out of 17 year olds”
Hahahaha
Jul 08th, 2011 - 11:24 pm - Link - Report abuse 0
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Redhoyt
Still relying on iii Think?

I've told you before ... an open site. Much as the Comments section of the Daily Mail is. Being selective again are we?
Jul 09th, 2011 - 12:37 am - Link - Report abuse 0
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Marcos Alejandro
Another interesting comment:
“This is like watching a car crash in slow motion !
No oil. No money. Poor acreage. Poor management.”
Jul 09th, 2011 - 05:49 am - Link - Report abuse 0
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Think
TWIMC

The only things I know for sure about Jambhala, the British Oil Guru from www.iii.co.uk are:
1) He is funny………………
2) He has ”called it right” astonishingly many times about the British Pirate Oil Adventure in South-America.
3) Mr. Beef, our own in-house ”oil expert”, tries hard to defame him at iii, by calling him an RG :-)

Long live “Jambhala”
May he be right about Malvinas Oil.
May all his investments turn out to be 50-baggers.
Jul 09th, 2011 - 06:01 am - Link - Report abuse 0
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Marcos Alejandro
Think, Is Beef related or Garbled himself?
Jul 09th, 2011 - 02:21 pm - Link - Report abuse 0
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Think
(15) Marcos Alejandro

Don't Think so...................

Garbled is a well mannered Essex gentleman......
Garbled doesn't insult people, not even Shakespearean-wise.......

Mr. Beef, on the other hand seems to be be a person with more hair than wit, and more faults than hairs, more wealth than faults and with a head standing so tickle on his shoulders, that a milkmaid, if she be in love, may sigh it off……………….
Jul 09th, 2011 - 03:36 pm - Link - Report abuse 0
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Marcos Alejandro
Hahahaha
Perhaps Marlon? and I'm not talking about the actor but a hairy monkey instead?
Jul 09th, 2011 - 07:51 pm - Link - Report abuse 0
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Think
(17) Marcos Alejandro
As you can infere from the comments of the article linked below, Mr. Beef’s “iii” identity was revealed to me, by chance, some time ago.
http://en.mercopress.com/2010/10/28/falklands-desire-shares-soar-amid-speculation-of-bid-approach

He is not “Marlonmonkey” :-)
Jul 09th, 2011 - 09:05 pm - Link - Report abuse 0
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Marcos Alejandro
18 Think , BFD? My Pirate-to-Spanish translator is not working very well today :-)
Jul 10th, 2011 - 12:13 am - Link - Report abuse 0
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Think
DYOR.................
Jul 10th, 2011 - 03:44 am - Link - Report abuse 0
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Marcos Alejandro
Aahhhh, ahora si :-)
Saludos
Jul 10th, 2011 - 06:06 pm - Link - Report abuse 0
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Think
TWIMC

New position of the Ocean Guardian rig . (Malvinas)

Notam update (10 Jul 2011):
AVOID OVER FLYING OIL RIG
PSN: 49º16’18.30’’S 59º06’55.33’’W

Previous Notam (26 Jun 2011):
AVOID OVER FLYING OIL RIG
PSN: 49º 15’ 40.30’’S 59º 03’ 40.42’’W

If the info above is accurate, (as it should be) it means that it took two weeks to move the rig 2.4 whopping miles (and, before you ask, the weather has been nice).

Apparently Rockhopper doesn’t want to leave their “comfort zone” …………

Chuckle chuckle™
Jul 10th, 2011 - 06:57 pm - Link - Report abuse 0
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Marcos Alejandro
“It is far more likely that a mid-tier British producer like Premier Oil or higher up the scale perhaps Cairn Energy might be interested in Sea Lion but 200mmbbls is definitely not enough for these guys. They would want a whole lot more giving the expense of bringing the asset into production. MM mentioned Petronas but they have significant interests in Argentina so I doubt they would be interested. China has major interests in the Santos basin and substantial trade with S America including the Argies - they won't touch FI to jeopardise all these other interests”
Jambhala was right...
Urinehopper 241.75 -14.00 (-5.47%)
Jul 11th, 2011 - 03:13 pm - Link - Report abuse 0
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Think
Ooooopsadadadada……..

Something very weird is happening in the Argentinean South Atlantic………..

Today, the Ocean Guardian rig is reported back at its position from the 26 June !!!

https://pilotweb.nas.faa.gov/PilotWeb/notamRetrievalByICAOAction.do?method=displayByICAOs&formatType=ICAO&retrieveLocId=EGYP&reportType=RAW&actionType=notamRetrievalByICAOs

And Rockflopper’s share price tumbled a whopping 5% down….., apparently without motive.

Anybody cares to comment???
Jul 11th, 2011 - 04:14 pm - Link - Report abuse 0
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Rhaurie-Craughwell
Yawn.....Because they are having gusts in excess of 84kmph and 48kmph average daily atm......any more mundane conspiracy theories?
Jul 11th, 2011 - 09:20 pm - Link - Report abuse 0
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Think
Chuckle chuckle™
Nice try Sassenach……………but:
Average wind speed for July has been 43.8 km/h. That’s a breeze down here.
I very much doubt your info is more reliable than the Ocean Guardian rig own weather station….:
http://www.wunderground.com/weatherstation/WXDailyHistory.asp?ID=M62141&day=12&year=2011&month=7&graphspan=month
Jul 12th, 2011 - 12:58 am - Link - Report abuse 0
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Rhaurie-Craughwell
Giggle Giggle ©

Nice try as think but I have my arse covered...(I see you pinched that weblink from II, hardly their own weather station ;)

You ever tried moving a rig that is 200 ft tall in 48kmph winds gusting to 84kmph....with 6 metre swells.....also...

The crew are having a well earned R&R in that well known clubbing capital of the South Atlantic....Stanley....

So difficult weather conditions + skeleton crew= not much happening.....

hope that clears things up......
Jul 12th, 2011 - 11:24 am - Link - Report abuse 0
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Marcos Alejandro
Oh yes clear enough, down about 4 % again today.
Jul 12th, 2011 - 03:16 pm - Link - Report abuse 0
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Think
Not much happening, .........................……… says the Sassenach..........................

Let’s do some maths:
18 days (and counting) to move the rig (some 4 km) á 600,000U$S per day = 10,800,000 U$S
Quite an expensive ”Crew R&R”

Let’s now have a look at the weather:
Last week average wind speed: 40.6 km/h
This week average wind speed: 42.8 km/h
A mere brise on this parts..................................................................................
http://www.wunderground.com/weatherstation/WXDailyHistory.asp?ID=M62141&graphspan=week&month=7&day=6&year=2011

Let’s now take a fresh look at the share-price:
Oooooops…… down again 4% to 233,50 p
Not much happening???
♂ Chuckle chuckle™ ♂
Jul 12th, 2011 - 04:47 pm - Link - Report abuse 0
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Zethee
That TM on the end every time is really sad.
Jul 12th, 2011 - 08:16 pm - Link - Report abuse 0
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Marcos Alejandro
Interesting British investor comment:

Catch a Falling Star

”In 5 weeks this share has dropped 15%. I won't even metion the percentage drop from the dizzy heights of less than a year ago up in the £5 range.
My subject title seems very apt as it appears that no amount of good news, theories, guesstimations as to the amounts of oil in the ground or juct good old speculation will shift this price upwards and certainly not back above even the £3 mark.

Definitely a falling star and no doubt still has a lot further to fall. One even doubts if this company will ever pump oil out of the ground. I can see why some are jumping ship.

Before I am berated for my thoughts, I am just a long term holder of RKH that is getting well and truely phissed off with the forever dwindling shareprice. I expect to see it well below the £2 mark yet and ask the question WHY? Turn off the life support and let us pass in peace!!
Jul 14th, 2011 - 05:07 pm - Link - Report abuse 0
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fredbdc
Marcos: Didn't you say in some post somewhere Argentina didn't need oil?

http://www.ieco.clarin.com/economia/Falta_de_combustibles-Tucuman-Misiones-Santa_Fe-consumidores-Clarin-com_0_517748491.html

Methinks you are a bit of a liar, do you work for INDEC?
Jul 16th, 2011 - 04:26 am - Link - Report abuse 0
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